Just like last year, ICICI Bank is once again engaging in what many consider an unethical practice—and for me, it’s nothing short of a scam—with certain credit card customers.
ICICI Bank recently promoted the ICICI Bank Adani Signature Credit Card as First Year Free (FYF) under a limited-time promotional offer. Many individuals applied for the card based on this offer, but that’s where the issues began.
Numerous users have reported that ICICI Bank charged them a joining fee despite the card being offered as FYF. Even more concerning, some users were charged without activating the card, setting the PIN, or even using it at all. This goes against RBI guidelines, which clearly state that a bank cannot charge fees if a credit card remains inactive for over 30 days, and such cards should be cancelled automatically if not activated.
We have screenshots of the FYF offer as proof. Several affected users also mentioned that ICICI Bank's customer support was unresponsive or unwilling to resolve the issue.
Update (12th April, 2025):
So, someone just got an email from ICICI Bank claiming that their Adani Signature Credit Card under the so-called First Year Free (FYF) offer has no joining fee—but surprise, there's a ₹5,000 + GST annual fee instead.
ICICI’s logic? “We didn’t charge a joining fee, we charged an annual fee.” Oh, and to get that fee refunded, you need to spend ₹6 lakh. What a joke.
This kind of twisted explanation is exactly why ICICI Bank has the reputation it does—clueless management pulling off cheap tricks and calling it "policy." I’m not even surprised anymore. For the record, I’ve already dragged them to consumer court for this nonsense back in 2024.
Let’s be clear: according to their own MITC, the annual fee is supposed to be charged from the second year only. The first year should have ZERO annual fee if they’re offering FYF—only the joining fee should apply, and that too should be waived under this offer.
Don’t fall for these shady tactics. Here’s a screenshot from their official website that proves it.
This is a screenshot of their MITC:
I honestly have no words left. One of India’s so-called largest private sector banks—ICICI Bank—stooping to this level of cheapness just to save a few thousand rupees is absolutely disgusting. It’s not just laughable, it’s shameful.
And to be even more blunt, my frustration is ten times higher with the RBI. Despite multiple guideline violations, despite countless customers raising genuine complaints with the RBI Banking Ombudsman, RBI is doing absolutely nothing. No action. No accountability. Just sitting there like a toothless regulator watching banks openly scam people.
This kind of apathy from a regulatory body is exactly why banks like ICICI keep getting away with these shady, anti-customer practices.
ICICI Bank recently promoted the ICICI Bank Adani Signature Credit Card as First Year Free (FYF) under a limited-time promotional offer. Many individuals applied for the card based on this offer, but that’s where the issues began.
Numerous users have reported that ICICI Bank charged them a joining fee despite the card being offered as FYF. Even more concerning, some users were charged without activating the card, setting the PIN, or even using it at all. This goes against RBI guidelines, which clearly state that a bank cannot charge fees if a credit card remains inactive for over 30 days, and such cards should be cancelled automatically if not activated.
We have screenshots of the FYF offer as proof. Several affected users also mentioned that ICICI Bank's customer support was unresponsive or unwilling to resolve the issue.
Here’s what you can do:
- Email ICICI Bank
Ask them to refund the wrongly charged joining fee and provide clarification on why the charge was made despite the FYF offer. - Wait for 30 days
If you don’t receive a satisfactory response within 30 days or your request is denied (in this case, you don't have to wait 30 days to file a RBI complaint), move to the next step.
- File a complaint with RBI
Use the RBI’s official portal to lodge a complaint. Here is a detailed guide on How to file a complaint against a bank on RBI BO portal: https://www.technofino.in/community...ank-on-the-rbi-banking-ombudsman-portal.3130/
➤ Attach the FYF offer screenshot.
➤ Include your email communication with ICICI Bank.
➤ Don’t forget to ask for compensation for the mental harassment caused by the bank's negligence.
Update (12th April, 2025):
So, someone just got an email from ICICI Bank claiming that their Adani Signature Credit Card under the so-called First Year Free (FYF) offer has no joining fee—but surprise, there's a ₹5,000 + GST annual fee instead.
ICICI’s logic? “We didn’t charge a joining fee, we charged an annual fee.” Oh, and to get that fee refunded, you need to spend ₹6 lakh. What a joke.
This kind of twisted explanation is exactly why ICICI Bank has the reputation it does—clueless management pulling off cheap tricks and calling it "policy." I’m not even surprised anymore. For the record, I’ve already dragged them to consumer court for this nonsense back in 2024.
Let’s be clear: according to their own MITC, the annual fee is supposed to be charged from the second year only. The first year should have ZERO annual fee if they’re offering FYF—only the joining fee should apply, and that too should be waived under this offer.
Don’t fall for these shady tactics. Here’s a screenshot from their official website that proves it.
This is a screenshot of their MITC:
I honestly have no words left. One of India’s so-called largest private sector banks—ICICI Bank—stooping to this level of cheapness just to save a few thousand rupees is absolutely disgusting. It’s not just laughable, it’s shameful.
And to be even more blunt, my frustration is ten times higher with the RBI. Despite multiple guideline violations, despite countless customers raising genuine complaints with the RBI Banking Ombudsman, RBI is doing absolutely nothing. No action. No accountability. Just sitting there like a toothless regulator watching banks openly scam people.
This kind of apathy from a regulatory body is exactly why banks like ICICI keep getting away with these shady, anti-customer practices.
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